Bhutan stakes $970K in Ethereum validator program

Bhutan has taken another step into the crypto space. New blockchain data shows the Royal Government of Bhutan staked 320 Ether, worth about $970,000. The stake was made through Figment, a company that helps institutions run validators and secure proof-of-stake networks.

This move adds to Bhutan’s growing interest in Ethereum and its plan to take a larger role in blockchain development.

Digital ID Project Moves to Ethereum

Bhutan has also been shifting its digital ID system to Ethereum. This project will let citizens verify who they are and use government services on the network. The transition began in October and could be fully completed by early 2026.

The launch included leaders from the Ethereum Foundation and Bhutan’s prime minister. It marks one of the largest national digital identity projects built on Ethereum so far.

A Country Deepening Its Crypto Footprint

Bhutan has deepened its involvement in crypto over the years. In 2019, the country began mining Bitcoin using its hydropower resources. Data shows it now holds about 6,154 BTC. That is worth more than half a billion dollars at current prices.

The country is also using crypto to support tourism. In July, officials introduced a plan to let visitors pay with digital assets across Bhutan. Nearly 1,000 merchants have joined the program. The plan aims to make payments easier for travelers and modernize the country’s financial tools.

Bhutan is one of the few governments that hold both Bitcoin and Ethereum at scale. Its activity fits into a wider trend of large players holding more digital assets. Major firms and governments now influence the market in new ways.

What This Means for the Market

Bhutan’s $970K Ethereum stake shows steady institutional interest in the network. As more countries explore blockchain tools, Ethereum’s role in digital identity and public systems continues to grow. This may support long term confidence in ETH and validator activity.

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